alexkyp

USDJPY potential BUY

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
The pair has been consolidating even after the DXY drop significantly.
Is currently trapped between the 31&50 - 200 EMA , following an upward trend.
There is no solid indicator showing a clear downward movement so we can expect the pair to try the 110.90 are for a further bullish run
Also for the past month the pair is been trading around the monthly trendline and fib support are of 109.50 forming an ascending triangle a potential bullish run indicator.
So we can wait for next weeks news on JPY to see how the pair will react!

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